Lithium Americas Corp. [LAC] stock Resumed by Stifel analyst, price target now $38

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Lithium Americas Corp. [NYSE: LAC] jumped around 2.03 points on Thursday, while shares priced at $21.66 at the close of the session, up 10.34%. The company report on June 21, 2022 that Lithium Americas Announces 2022 AGM Results.


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Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) is pleased to announce the voting results from its annual meeting of shareholders held on June 21, 2022 (the “Meeting”).

A requisite majority of shareholders, casting votes in person or by proxy, approved the following items of business at the Meeting:.

Lithium Americas Corp. stock is now -25.62% down from its year-to-date (YTD) trading value. LAC Stock saw the intraday high of $21.84 and lowest of $20.09 per share. The company’s 52-week high price is 41.56, which means current price is +14.66% above from all time high which was touched on 04/04/22.

Compared to the average trading volume of 3.89M shares, LAC reached a trading volume of 2921679 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Lithium Americas Corp. [LAC]?

Stifel have made an estimate for Lithium Americas Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 25, 2022. While these analysts kept the previous recommendation, HSBC Securities raised their target price to Buy. The new note on the price target was released on January 27, 2022, representing the official price target for Lithium Americas Corp. stock. Previously, the target price had yet another raise from $30 to $40, while Cowen kept a Outperform rating on LAC stock.

The Average True Range (ATR) for Lithium Americas Corp. is set at 1.53 The Price to Book ratio for the last quarter was 2.65, with the Price to Cash per share for the same quarter was set at 3.66.

How has LAC stock performed recently?

Lithium Americas Corp. [LAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.66. With this latest performance, LAC shares dropped by -14.45% in over the last four-week period, additionally sinking by -35.78% over the last 6 months – not to mention a rise of 57.07% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LAC stock in for the last two-week period is set at 48.80, with the RSI for the last a single of trading hit 53.19, and the three-weeks RSI is set at 47.03 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 23.21, while it was recorded at 20.27 for the last single week of trading, and 27.59 for the last 200 days.

Lithium Americas Corp. [LAC]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -10.52, with Return on Assets sitting at -6.68.

Lithium Americas Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 51.20.

Insider trade positions for Lithium Americas Corp. [LAC]

There are presently around $718 million, or 23.90% of LAC stock, in the hands of institutional investors. The top three institutional holders of LAC stocks are: MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. with ownership of 3,555,786, which is approximately 94.416% of the company’s market cap and around 14.93% of the total institutional ownership; VANGUARD GROUP INC, holding 3,047,023 shares of the stock with an approximate value of $66.0 million in LAC stocks shares; and FIFTHDELTA LTD, currently with $54.47 million in LAC stock with ownership of nearly 256.178% of the company’s market capitalization.

Positions in Lithium Americas Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 175 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 14,495,385 shares. Additionally, 79 investors decreased positions by around 5,249,092 shares, while 43 investors held positions by with 13,406,931 shares. The mentioned changes placed institutional holdings at 33,151,408 shares, according to the latest SEC report filing. LAC stock had 90 new institutional investments in for a total of 4,690,037 shares, while 28 institutional investors sold positions of 864,547 shares during the same period.

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